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WETA
Feb 25, 2010 12:30am EST
funds rate for an extended period. >> tom: but ben bernanke tells lawmakers he's moving ahead with plans to pull some of the rescue programs put in place during the financial crisis. you're watching "nightly business report" for wednesday, february 24. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening, everyone. your interest rates won't be going up for a little while longer. federal reserve chairman ben bernanke told congress today he does not plan to raise rates anytime soon. >> tom: susie, those were magical words for investors. stocks rallied with the dow gaining 91 points. >> susie: tom, bernanke also told lawmakers about the fed's plans to wind down the emergency lending programs put in place during the financial crisis. darren gersh has details, and how the transition back to normal could impact you. >> reporter: when you've pumped more than a trillion dollars into the financial system, a
CNBC
Feb 24, 2010 12:00pm EST
bernanke's testimony. they're taking a break and we're monitoring it and return to it if need be. let's go to steve liesman. what do you think is happening here? >> the main thing to note is the thing he said again that the fed will remain exceptionally low for an extended period. there were questions about given what happened to the discount rate and given a very confusing financing program that they announced yesterday which is sort of a drain on liquidity. the main thing is bernanke steps forward and says we will remain exceptional, there are a lot of games and dancing going on about regulatory reform and games and dancing going on about some of the fed anger and the populist anger about where you go from here on deficits and that, but i don't think any of that is as substantial, jimmy, as the chairman saying here's the policy. the policy is what it was in january. one other note i would make, i thought his comments on the recovery were tentative and more on the one hand and on the other hand he's talking about this transition from a kind of government-fueled growth and an inventory
CNBC
Feb 10, 2010 7:00pm EST
>>> tonight on "the kudlow report," the washington snowstorm shut down congress. but ben bernanke released his new testimony, anyway. investors caught a chill on the news, and distinguished money expert john taylor has his own expert strategy rebuttal to bolster ben's manhood. you don't want to miss this one. >>> they're bearing gifts to the greece bailout problem. will the bailout issue ever end? >>> google is at war with china and now they're being thrown out of iran. they think they can stifle free speech, but i think the old human desire for freedom and democracy will still win out in the end. >>> has obama flipped out on greedy bonuses and business support? well, liberal columnist paul cra craigman is horrified, he thinks we're doomed. fasten your seat belts, everybody, "the kudlow report" starts now. >>> good evening, everyone. i'm larry kudlow. welcome back to "the kudlow report" where we believe free market kamt capitalism is the b path to prosperity. >>> our lead story tonight is fed head ben bernanke's leader to congress. how is he going to stop the zero interest rate mo
CNBC
Feb 24, 2010 4:00am EST
. >> in europe, google faces anti-competition measures. >>> in the united states, ben bernanke gets ready to outline an exit strategy to a skeptical congress. >> a warm welcome to "worldwide exchange." i'm chloe cho in asia. it's just past 5:00 p.m. in singapore. let's check on where the asian markets are wrapping up the trading day. mostly weaker today on the back of weaker consumer confidence numbers. and toyota lows taking the nikkei lower by 1.5%. the hang seng off 0.75%. on the other hand, we have the shanghai composite erasing all of its earlier losses, pushing higher by 1.3%. a lot of speculation in small cap stops and what may be linked to the national people's congress set to kick off next friday. other markets are weaker, the kospi down 1%. the bombay sensex has been trading around the front line. the aussie market asterisk comes off the table, a lot of commodities and resources lower. the s&p/asx 200 down .5%. let's check on the ftse cnbc global 300. slightly off 0.4% at 4,315. good morning, becky. >> good morning. it's about 10:00 on the continent. european markets have been t
CNBC
Feb 24, 2010 9:00am EST
center, benjamin s. bernanke. >> yes. >> will be testifying in front of the house financial services committee about the economy and anything else they want to talk about. that'll be live in an hour. >> how about the exit strategy? imagine there will be some questions about that. the sec meets on possibly curbing short sales. huge issue for the market. full details coming up. >> and president obama meeting with key business leaders. it's all happening during this show. we've got a lot of breaking news, big headlines for you. we will be all over it, mark. how are your futures? >> not too good. >> no. >> up 0.70. we get a little break here because we closed a point above fair value. but, you know, looking at maybe 15, 20 points on the dow at the open. let's hit the markets. peel back the layers of the onion starting with brian shactman at the big board. >> thank you. listen, asia and europe were pretty mixed. germany, their economy in an absolute standstill. doint need to go over bernanke and all things going on in d.c. will tobacco the dog and pony show or real insight into an exit st
PBS
Feb 10, 2010 7:00pm EST
captioning sponsored by wpbt >> tom: bernanke's blueprint, the federal reserve chairman outlines plans to pull back the trillions of dollars the central bank has used to prop up the economy. >> suzanne: the exit strategy includes eventually removing cash from the financial system, then raising interest rates. you're watching "nightly business report" for wednesday, february 10. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> tom: good evening, everyone. a huge winter storm closed the federal government again today. that didn't stop federal reserve chairman ben bernanke from making news. >> the weather postponed the hearing. >> tom: the central bank oh could take to prop up the economy. erika miller has the details. >> reporter: investors did not hear the fed chairman's testimony today, but they still could read it. all 3,496 words. economists say the most important sentence is here, on page ten. "the federal re
FOX
Feb 11, 2010 4:30am EST
honest about problems with its vehicles or could there be more troubles ahead? >> we know bernankes plan to pull the plug on the emergency support programs for the financial market. >> the on line diamond business. how much does the future shine? it's all ahead on today's "first business." >> you're watching financial news. >> thanks for joining us. news of a potential bailout for greece could be coming, helping to stabilize the financial markets. the european summit is taking place thursday. we could hear developments on greece. >> the chicago auto show is getting underway. toyota is one of the headline stories that we are watching, including the possibility of the president of toyota coming to the united states sometime in march. we'll have to wait and see on that one. >> other than that, not much going on on capitol hill this week. washington, d.c. is digging out from the huge storm. hearings that were to be held this week have been pushed back, including toyota's massive recall. >> this week a class action lawsuit was filed against toyota on behalf of people who bought the stock
CNBC
Feb 25, 2010 4:00am EST
. >> in the united states, the spotlight shines today, ben bernanke is back on the hill and president obama's high profile health care summit. >> hello there. a warm welcome to "worldwide exchange." it's chloe cho in asia where it's just past 5:00 p.m. in singapore. a similar scene that we saw as yesterday, of course, investors picking up on bernanke's comments. going forward, could be weak. of course, we had some weak housing numbers, as well, along with disappointing consumer confidence this week. take a look at the damage report. the yen is not helping. nor are the toyota woes. the hang seng, slightly off the shanghai composite. we did have the auction yield on three-month bills along with one-year bills earlier this week that left those yields unchanged. a lot of investors seem to be thinking that perhaps this could be a sign the pboc is taking it easy as far as tightening is concerned. as for the other markets, the kospi down 1.6%. the bombay sensex is pretty much right along the flat line and the aussie market lower by 1.2%, back below that key 4,600 level and take a look at the
CNBC
Feb 25, 2010 11:00am EST
, and also because fed chief ben bernanke is saying that they're going to look into the swaps specifically with goldman. so that is an issue, of course, as well. i want to bring in brian shactman who has been down here all day and tracking all of this action. a very big day, indeed, brian. let's talk about the economic situation and how the jobless claims are affecting this market. >> the truth is when americans woke up today, we will have a negative open because of europe. the concerns over greece, of course, made the euro softer and the dollar strengthen. we've had a real correlation with the dollar and the euro in eshgsz kitties and jobless claims hit and it was muted and boom, we bottomed out and they were a concern today and we have traders saying this is a 70% greece and the others is saying 100% about jobs. a lot of earnings and there's a big, big deal that we want to talk about today as well. >> coca-cola enterprises. this had been to some extent, somewhat expected within the m&a community. when you see a deal like this a multibillion deal, one would have to think that
CNBC
Feb 8, 2010 7:00pm EST
supply-side tax cut anywhere on the globe. and then helicopter ben bernanke is going to capitol hill this week with a new blueprint for tighter money known as "paying interest on excess bank reserves." i don't buy it but we'll debate it. >>> and finally, the obama jobs plan which i call stimulus 2.0, full of gimmicks and high tax-job destroyers. i'll use my best right hook against the left jabs of mark walsh and david goodfriend two of my favorite liberal pals. fasten your seatbelts, everybody. "the kudlow report" begins right now. >>> good evening. i'm larry kudlow and welcome back where we believe freed market capitalism is the best path to prosperity. let's begin with tonight's money politics message. i'm trying hard to be optimistic about economic recovery in america and for that matter, around the world. in my world, optimism always beats pessimism every time. despite wayward policies from washington i still believe in the cyclical recovery scenario here at home. but the growing debt problem in the u.s., europe and elsewhere is starting to sack confidence in the optimistic growt
CNBC
Feb 24, 2010 1:00pm EST
real party of hearings and speeches and statements at this hour. the president, mr. bernanke, secretary lahood, testifying on the toyota issues on the hill. let's take a breakaway. we're going to watch them all and bring in john harwood, steve liesman and andrew par menty yea, managing partner with height analytics and open the discussion here. steve, you've been listening to mr. bernanke sum it up for us. what are the three or four bullet points. >> he reiterate that the fed will remain exceptionally low. that was a little bit more dovish than maybe some expected. you see the bond market rallied a bit. the dollar kind of hung in there. stocks have done better while bernanke's been talking. interesting comments on the volcker rule where i guess he's in opposition to the president's strong ideas about banning proprietary trading by the banks. he's saying you can do that idea, but it's frouth with danger and a better way might be to give the regulators authority to limit risky activity. he's got a less or thoughdox version of the volcker rule which is what is already in the hou
CNBC
Feb 24, 2010 6:00am EST
line. >>> ben bernanke, coming to capitol hill. the central bank chief is ready for tough questions from lawmakers about the economy, interest rates and the fed's exit strategy. and president obama reaching out to business leaders, hosting a white house dinner for some high profile ceos. today, he addresses a business round table. those stories and more as "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box." i'm becky quick along with joe kernen and carl quintanilla. we've been watching the markets this morning. after a down day yesterday, you'll see we're not getting any bounceback just yet. after yesterday's markets, obviously, you've got a lot of watchers waiting to figure out what happens. >> yeah. that consumer confidence number was troubling. >> it was. >> people now thil thinking maybe the sample was bad because i was worse than a lot of people expected at this stage of the game. we've got jobless claims high. we'll talk a lot about that this morning. but toyota's troubles are in the spotlight again today as the company's ceo appears on capitol
WETA
Feb 26, 2010 12:30am EST
investigation. and fed chairman ben bernanke told lawmakers at a senate banking hearing today that he's reviewing goldman's derivative swaps with greece. >> obviously, using these instruments in a way that intentionally destabilizes a company or a country is... is counterproductive, and i'm sure the s.e.c will be looking into that. we'll certainly be evaluating what we can learn from the activities of the holding companies that we supervise here in the u.s. >> susie: at that same hearing today, bernanke repeated the same message he told house lawmakers yesterday-- he does not plan to raise interest rates anytime soon. so, if interest rates remain at historically low levels for many more months, what does that mean for stock investors? suzanne pratt asked some market pros for their opinion on that topic. >> reporter: when federal reserve chairman ben bernanke talks, wall street always pays close attention. that's because there's an inverse relationship between fed policy and stock prices. tighter money usually means stocks move lower, while easy money generally equals higher stock p
CNBC
Feb 24, 2010 11:00am EST
from california. >> thank you very much. i would like to thank chairman bernanke for being here today. starting with your discussion on page 4, in addition to closing special facilities the federal reserve is normalizing its lending to commercial banks through the discount window and you go on to talk about your new federal funds rate and discussion about why you have done this and encouraging banks to go to the private market for investment and you say further in this discussion that these adjustments are not expected to lead for higher financial conditions for households and businesses. the last thing i heard before i came here this morning was a prediction by some of the analysts on television that in about one month we can expect that there will be an increase in interest rates on mortgages and home loans and everybody that i've talked to really believes that this change that you have made in the federal funds rate is what's going to trigger that. is that true or did you give any thought to this? how can you guarantee that it won't? >> congresswoman, it's not the federal funds rat
CNBC
Feb 10, 2010 11:00am EST
into today's trading. market lower amid ben bernanke's comments and we'll talk about the fed's exit strategy and what it means for your money right now. hey there, larry. >> hey, trish. i'm larry kudlow, conflicting reports on whether there's a european plan to bail out greece. we'll have a live report from brussels and we'll discuss what needs to be done right here. good morning, melissa. >> as toyota's problems mount we ask are cars just too overengineered and sophisticated computers doing more harm than good. this is "the call" on cnbc. >>> it looked like it was going to be a positive day on this snowy morning in new york city as traders remained optimistic that there would be a bailout for greece, but then germany said there was no imminent plan and the rallies stalled and after ben bernanke announced the fed's exit strategy. take a look at how the s&p 500 is trading. it is down seven points on the day and it's two-thirds of a percentage point. take a look at the dow, it's down 59, almost 60 points and that's 0.1% and sitting below the 10,000 mark and the trading down 0.6%. tris
CNBC
Feb 25, 2010 9:00am EST
top left box, those are color bars. >> but they will be -- >> who will they be? >> ben bernanke. >> okay. senate banking committee. president holds a key health care meeting. that's why we have the white house. what else? >> snow in the northeast. it started as rain this morning for many this morning who are watching but it has turned into thick -- >> wet, heavy. >> idyllic if you're looking to -- >> don't shovel this stuff. >> well, good morning, everyone. it's good to be with you. we're here, glad you're here. i'm erin burnett. >> i'm mark haines. >> it says i'm market haines. i want everyone to know it's funny. >> yes, i noticed that. also front and center the number of u.s. workers filing initial claims for unemployment benefits rose unexpectedly last week. >> coca-cola striking a deal to buy the north american operations of its largest bottler. you just saw the ceo there. >> heinz posted $231 million profit. a lot of ketchup. >> futures are sad. >> not good. >> part of the reason for the sadness was an unexpected jump in unemployment claims. >> hum. >> much bigger jump than
CNBC
Feb 10, 2010 9:00am EST
has not agreed to anything yet. >> and ben bernanke will be releasing his ideas on how the fed is going to pull back from its current role of propping up the economy in every way, shape, and form. we're going to have that live at 10:00. i know his comments are coming out, mark. i'm not sure if he's actually going to physically be there because you know in washington it's a little snow. what are they going to do? >> i think they now have a total of 50, five zero, inches on the ground. >> yeah, yeah. >> we also have big snow issues in new york, baltimore, philadelphia, airports closed, schools closed. it's a real mess. this is a live picture. >> wow. >> well, it was a live picture of reagan national airport. it is empty. >> that's amazing. it really is. mark, you know i remember when there was a forecast of snow things would be shut down and called off and to your point pretty incredible what has been going on there. snowmageddon. that's an amazing picture, live. no one at the airport. >>> the futures right now are plus 0.70 on the s&ps. we needed 1.42 to get to fair value. so it's
FOX
Feb 25, 2010 4:30am EST
obama and lawmakers. >> the second day of testimony will come from fed chair ben bernanke. >> there's more testimony coming out on toyota today, and news from general motors shutting down it's hummer production. >> in our trader talk, we are joined now with richard ilczyszyn. i have to mention that yesterday, it seemed like every time ben bernanke opened his mouth, the markets rallied a little bit more. >> agreed. that's a good point. let's start at the beginning part of the day. the s&p currently at that time was trading at 1090's. we get a housing number that shocks the system, the worst in recent history here for this specific months, the market sells off. then bernanke's testimony, the market gains momentum on statements that we have to keep interest rates low, giving the technical buyers help in their trade. the s&p yesterday trading above 1100 gives us a little bit of breath. i don't think this is going to be a tear on a bull run here unless we can close above the previous high, 1112, well above the 50-day moving average. i think the jury is still out whether or not
CNBC
Feb 24, 2010 12:30pm EST
have to bring you to the bernanke testimony. he is continuing. let's listen in. >> that will kill the insipient howing recovery by tightening today and then hurting the housing market? >> we will still continue to hold 1.25 trillion of mortgage-backed securities plus additional agency debt and we think that will continue to keep mortgage rates down. there's a lot of differences of view about how much mortgage rates might go up after the end of this program. so far we haven't seen much, so i think we need to look and see if there's a big reaction, if it does affect the housing market. there may not be a significant reaction so we will ton watch that. >> we -- we've seen that, for example, also, and i think especially in california, to a degree in new york also and other places. i've talked to, quite frankly, to some friends of mine, but in california where they have no recourse loans. we find that where banks are unwilling to write down the principles, and i know you talked about the program, the whole program and writing it down, but it seems now where banks are not willing to wri
CNBC
Feb 12, 2010 8:00pm EST
, bernanke indicated this week we may reach that point. that's a good thing for us long term. >> how did you interpret the three-day weekend? immediate reaction would be what karen had. sell into the long weekend. at the same time, if you see values at some point, you see the buyers coming. sort of what we saw today. >> i think a lot of people were squaring up. in terms of getting back the fundmentals. look at ingersoll-rand, the quarter they reported, on the revenue side, their guidance was lousy. their guidance for the year was miserable. one of those international stocks, global growth, housing, commercial real estate, encompasses a lot of things. but, the quarter was a disaster and they really are, they have their finger on the pulse on a lot of different things. again, ingersoll-rand, in terms of what we're talking about it's a big deal. >> accurate of the change right now. 2009 you had the reflags assets doing well. 2010 it's not going to be about that cyclical recovery, a quality recovery. while the market right now grinds its way to which quality names will lead that recovery, you'll
CNBC
Feb 24, 2010 6:00pm EST
." trying to entertain you. call me. the most dramatic piece of news today did not come from ben bernanke's grilling in front of the house of representatives. bernanke floated like a butterfly. didn't bother to sting at all. it wasn't the skewering of toyota by congress for which the takeaway is quite obvious. keep buys ford and ford preferred. no, none of that. the most sit-up and take notice piece of news today came from dollar tree. which skyrocketed six points, up more than 14% on a day when the dow gained only, well, like 92 points. s&p up a percent. why do we care about a dollar score more than the fed chairman or a huge automaker? first, in full disclosure, my good and plenties of toiletries at my local store did not skew the numbers higher. although it didn't subtract from the company's astounds 32% increase in earnings. no. what this number says and what the stox said in reaction to it along with the store's radically high guidance from 2010, is that the consumer, the consumer is bummed and the consumer is stretched. >> the house of pain. >> i tell you, you don't go to dollar tree
CNBC
Feb 10, 2010 4:00pm EST
. >>> fed chairman, ben bernanke laying the groundwork on the central bank's exit strategy for the economic rescue efforts. we've got details of what mr. bernanke said today coming up. >>> but first here's a look at how we finished the day on wall street. the dow jones industrial average under water today. down 21 points on the dow at 10038. under a billion shares traded here on the nyse, as people stayed home, instead of embracing the heavy travel and heavy snow. s&p 500 down 2.5%. quarter of a percent lower at 106 and the nasdaq composite gave up three points and technology one of the winners on the session as was financial services. we get all of the action right now from bertha coombs our floor on the nyse. >> reporter: hey, maria, all things considered it's not a very bad day on the close, even though we closed to the downside. the real factors that kept people hessittant today, the snow of course. that kept volumes lower, but also the uncertainty about where we're headed with greece. this morning, as you take a look at the intraday of the s&p, as we saw the headlines go back
CNBC
Feb 10, 2010 4:00am EST
united states, ben bernanke will set out the fed's exit plan today but will likely make jobs clear, we'll still be in the car for some time to come. >> and welcome to "worldwide exchange." i'm christine tan in singapore where it's 5:00 p.m. in the city. let's get a view of where the asian markets have closed today. a lot of hopes pengd on the european union. they might come up with a plan to bail out greece. the nikkei 225 is up marginally. toyota continues to be focused. that stock climbing despite anal announcement that it's recalling another set of cars. the shanghai market up more than 1%. a lot of positive comments out in the country about strong import data and export data and that's helping to lift sentiment in china. the kos pit is moving up flat. people and investors are staying on the sidelines. the bombay sensex is trading down 0.5% and the aussie market is pretty much flat, up 0.2%. the ftse cnbc global 300 up 8 points, 4,243. ross, good to see you. >> hey, christine. we're very much focused on the who, what and when of the potential aid for greece at the moment. if it happens
CNBC
Feb 10, 2010 12:00pm EST
very much, sharon. we're not getting as much volatility today as yesterday although ben bernanke's tax did get a little movement. if you look at two-year yield it's slightly elevated and you look at the curve it's know changed. there's a potential for an exit strategy as depicted by that text. if you look at the next chart, indeed the euro versus the dollar has been mostly down, but it is bouncing back a bit especially in the last hour or so, keeping up with the headlines and some of those headlines, hey, the checks didn't have a good day and they sold an additional 150 million u.s. equivalent of their 15 year. they wanted to sell more, but portugal had better luck selling u.s. equipment of the 4 billion of ten-year note and let's hop across the pond and rebecca me ham. >> let's take a check of what's happening in europe and it's all about greece. no surprise there and we check on the fotse, the cac and the dax. 2.4% higher for greek eiquities today. we know we've had the european finance chiefsi having a conference call today. the ecb governing body is having a call tonight and tomorr
ABC
Feb 25, 2010 4:30am EST
reserve chairman ben bernanke will be back on capitol hill today, for day two of his twice-a-year economic report card. on wednesday he made it clear that interest rates will remain at record low levels for several more months to support the recovery. the latest housing numbers show just how fragile that recovery is. new home sales fell to the lowest level on regard in january. >>> new concerns about greece's debt crisis are overshadowing bernanke's comments this morning. stocks fell in torque owe with the nikkei dropping almost 1% today. bernanke's testimony gave wall street a boost yesterday. the dow finished up 91 points closing at 10,374. the nasdaq gained 22 points to close at 2235. >>> chrysler is voluntarily recalling more than 350,000 minivans because of problems with crash sensors that control the air bags. the company says it will replace the sensors in 2005 and 2006 town and country and dodge caravans. but chrysler says it should wait until june to contact dealers because it needs time to distribute the replacement parts. >>> it appears to be the end for hummer. gm says
CNBC
Feb 24, 2010 4:00pm EST
from the toyota hearing that we've been watching here on cnbc. federal reserve chairman ben bernanke also telling congress today that interest rates are likely to remain low for an extended period of time to support the economic recovery. that's what really set the tone for stocks today and saw a rally in the market by 91 reports. cnbc's reporter steve liesman has more. >> reporter: fed chairman ben bernanke said those magical words that markets wanted to hear today, that the fed would stay exceptionally low for an extended period. he said that before but market his their doubts after fed hiked discount rate last week and the treasury, then, revived a program that helps the fed train liquidity. that is ultimate lie a program that could make financial conditions tougher. bernanke attempted to be crystal-clear on fed policy. >> the fomc continues to anticipate that economic condition conditions including low rates or resource utilization subdued in inflation trends and stabile expectations are likely to warrant exceptionally low levels of the federal funds rate for an extended period.
CNBC
Feb 2, 2010 7:00pm EST
, inflation and ben bernanke, will the fed reduce the balance sheet and get rates to more normal levels in my lifetime? >> hopefully you will live a long time, larry, so yes. unfortunately i have never seen the fed or bernanke articulate how to downsize the balance sheet. i haven't seen a plan out there to say, this is how we can do it. they are owns and backing these mosh mortgage-backed securities now and they will weigh reducing the balance sheet with propping up the housing market. we may see another republican revolution and a cut-back on the huge obama taxes on hedge funds, bank pay, small businesses and letting the bush tax cuts expire, i am not confident that bernanke has a plan to deleverage and 2.7% year-over-year growth in the cpi isn't scary, but it's not comforting either. >> you have cut back on your equity allocation, is that right, mike? >> yes, i am. i'm pretty much now at about 20%. jim points out the strong growth in corporate profits. a lot of it is from cutting overhead, cutting employees, but some junk bonds are attractive now for the companies that will have the c
CNBC
Feb 24, 2010 5:00pm EST
night, let's look at the day on wall street. we had the tone set by bernanke this morning, suggesting interest rates would stay low for as long as possible as this recovery remains fragile. the dow jones industrial average closed off the best levels of the afternoon. higher at the close by 91 points. nasdaq was up 22. have a fantastic evening. fast money is up next. >>> live from the nasdaq, this is fast money. the euro's breaking up. it's this kind of flip-flopping that makes for a range-bound market. here's our job for you tonight using karen finerman, we'll give you the best ways we're finding alpha. we'll get to the top story of the day, which is toyota. >> i mean, you know, as i said before, as a value investor, you look at name like toyota and see what the stock has gotten absolutely crushed. it's felt to me like with mr. toyoda there today and our congress, once again shocking me at how ridiculous they can be. it seemed like an absolute crescendo of bad news for them. a trade for me. i don't normally trade like that. >> stepping into the trade. pete, you know, it fe
CNBC
Feb 10, 2010 3:00pm EST
next week. bernanke's testimony was released this morning. on outlining an exit plan, the market pretty much took a slide. a lot of things that told about -- heard about. the 10-year auction did not go too well. rick santelli will have more on that, partly because of the low volume, because of the storm. as the storm's intensified here in the northeast i know that traders are concerned about getting home and we've seen volumes get lower. financials have been the standout all day and really moved us into positive territory midday. jpmorgan, bank of america very strong. and strong that perhaps metlife set to buy its alcoa unit. energy and materials have gone back and forth as the dollar has gone back and forth. dollar lost ground midday. we saw them gained and now they're losing again as the dollar is stronger got and also got disappointing outlooks from lothan mentel. the super markets, maybe one of the benefactors to watch as far as the storms. their stocks today are doing pretty well. a friend of mine sent me picture it is from washington area super market chains there, calling
CNBC
Feb 11, 2010 4:00am EST
outcome of that eu meeting, as well, and nursing losses from the federal reserve chief ben bernanke. we've got all the details. christine, we're waiting for the timing. >> that's right. let's see the properties expect of a package for gooes, is it having any impact on the euro right now? euro/dollar, 1.3763. euro is higher against sterling, 0.8841. euro/dollar 1.3763. dollar/yen, standing at 90 evening. a lot of eyes on what will happen with the package. nicole. >> the snowstorm may gone in the i'd, but it's reeking havoc in the east coast, especially in washington. government offices are closed for a fourth straight day at the estimated cost of $100 million in lost productivity. the senate will be back in session this afternoon, but no votes are scheduled. the weekly u.s. inventory data which normally comes out on wednesday has been postponed again until friday. january retail sales in december business inventories which were supposed to come out today have moved to friday. we still get weekly jobless claims at 8:30 new york time and they're forecast to drop by 12,000 to a total of
CNBC
Feb 10, 2010 6:00am EST
a bailout for the debt-strapped country. >>> on exit strategy, ben bernanke unveiling his plan for the fed's next move. and the house of mouse, disney posting strong quarterly results and investors are responding. a cnbc exclusive with ceo bob ieger, "squawk box" begins right now. >> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick. joe and carl are out today. steve liesman is spending the week on set with me and this morning we are joined by "fortune" magazine editor andy soerwer. >> good to be here. >> meantime, wall street is bracing for a winter storm this morning as the second snowstorm in a week descend eds on new york. washington, philadelphia, they are expected to be hit and hit hard. the federal government in washington is closed for a third straight day at an estimated cost of $100 million in lust productivity. government offices in boston, baltimore and philadelphia all announcing that they will be closed. congress, by the way, is canceling votes and rescheduling hearings. the united nations headquarters in new york city shutting down school
CNBC
Feb 19, 2010 2:00pm EST
program. the answer is the fed wrote this great speech by bernanke, published on february 10th, and he said he's going to do it. you have to be from mars not to know that he had to deal with the discount rate. but the federal funds rate what bernanke is also saying is not going to be a good, as it was historically, measure of what's going on in the short-term monetary markets. we do the same thing all the time. one of the risks, one of the returns are inflation, interest rates, cost of capital, and equities. and so we have the rice syndrome so to speak. what he said about the new normal is what we've been living through for the last hundred years. returns of 4.5%, 5%. >> wait a minute. last ten years were a little different than that. but so were the '80s and '90s. >> yes. >> you had 18% type returns, compound annual growth rate in the equity markets, so the last ten years you didn't make any money. if you bought an index fund like vanguard you would have made no money. >> why did i have you on the show? i want to go back to jim. i started investing ten years ago and actually bought a
CNBC
Feb 25, 2010 6:00am EST
seat, fed chairman ben bernanke has returned to capitol hill this morning. and investors are looking for more clues on the central bank's next move. and the markets at this hour have u.s. equity futures under a bit of pressure after yesterday's rebound as "squawk box" begins right now. >> welcome to "squawk box" right here on cnbc. i'm becky quick along with joe kernen at the cnbc world headquarters. carl is in washington this morning where president obama is hosting a televised health care summit. we'll have more from carl on that story. but joe, that's not the only news in washington today. >> no, it's not. we may pipe in that music with carl down there and he'll be looking good. he'll have his jacket on. >> he always looks good. >> yes, he does. also in washington, carl is there, but also this other guys that's going to show up. that's not really what all the scuttlebutt is going to be about down there. it's about carl. but ben bernanke will come back and testify on the hill today. yesterday he pledged to continue record low interest rates for, in his words, an extended period. >>
CNBC
Feb 9, 2010 11:00pm EST
who's equivalent of ben bernanke he hurried back. the moment he booked that ticket the hedge funds figured he was going to solve the crisis and that's when they started rallying. y yun -- can you believe it? you just need to find out who his travel agent is and book your trade accordingly. if we knew he's on the case, we're less concerned about a collapse in europe and we recognize that he isn't about to cut off the stimulus that's so crucial to getting europe which has the worst economies in the world going in the right direction. if the stock market stimulus thing is still with us, then we're not going to slink back into a worldwide slowdown. trichet's travel interruption was so powerful it was able to do something i have not seen happen since the year began, maybe even earlier, and that is the stock market did not go down when the baron chief president obama spoke on tv. way to go, trichet. now, i know about zorba the greek than greek bonds. i get the gist of trichet's move -- memo to trichet on his travel plans, make sure they're never on a sunday because the markets aren't ope
WETA
Feb 4, 2010 12:30am EST
bernanke was sworn in for a second term today, the federal reserve chairman said he was focused on protecting the agency's independence. bernanke said that independence is key to keeping monetary policy focused on the long-term interests of the american people, and not political whims. >> susie: you've probably noticed that the prices you're paying at the pump are holding steady these days. but can we count on them to stay that way? well, that all depends on what happens to the price of oil. and, as suzanne pratt reports, forecasts for oil prices in 2010 are all over the map. >> reporter: at this gas station in midtown manhattan, gas prices are among the highest in the nation. whether they spike even higher, head lower, or stay in the same range this year depends on who you ask. j.p. morgan's lawrence eagles expects crude prices, which dictate gas prices, to climb higher. that's after averaging between $72 and $76 a barrel in the first half this year. >> moving higher in the second half, up to $88 by the end of the year and moving appreciably stronger in 2011. >> reporter: for eagl
WETA
Feb 27, 2010 12:00am EST
news at this point. did ben bernanke deserve the honor of person of the year? >> well, he certainly get some credit for bringing us back from the brink, but he deserves a lot of blame for pushing us to the brink. it depends on how you balance that. the fact that the fed, he and his predecessor, alan greenspan, were largely responsible for the mismanagement of the economy, failing to have regulations that would have stopped us from getting into this mess, even as we have been pulled back from the brink. unemployment has soared. people have said we will not be back to normal unemployment until the middle of the decade. yes, it is great the banks are paying bonuses again, it is great they are making big profits. america is still in not good shape. tavis: how do you respond to the notion that i have read that the obama team, speaking of bernanke, that the obama economic team, tim geithner, larry summer, that group, there is not a stiglitz-like voice in that group? you hear the critique all the time of what is missing on the economic team. what are your thoughts? >> i think one of the streng
PBS
Feb 18, 2010 7:00pm EST
" lending now that financial market conditions are improving. >> tom: so what are ben bernanke and company thinking? where does the fed go from here? and what does it mean for the cost of credit? we get some insight from a fed watcher and a market pro. you're watching "nightly business report" for thursday, february 18. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening, everyone. the federal reserve took the first step today to bring the banking system back to normal. right after the market close, the fed announced it's raising the interest rate it charges banks by a quarter of a percentage point. >> tom: susie, the so-called "discount rate" is used by banks for emergency loans, and was cut drastically during the financial crisis. the fed raised that rate today, saying in a statement it's time to "normalize" lending now that financial market conditions are improving. >> susie: tom, the fed's mov
CNBC
Feb 25, 2010 12:00pm EST
which we're watching for you. we'll bring you the latest, ben bernanke, et cetera, okay, bears have had such an edge today. you've got to admit it, right? don't they? greece could be in trouble. germany's so tentative, spain's next, jobless claims are terrible. strong dollar. you can only imagine then with that parade of horribles, how hobbled the consumer is, can't be buying right? no wonder we're down so much. then all of a sudden the facts get in the way of the story. look, i want to be bearish in all this news. i want to join my buddies and pals, friends, yogi, boo-boo, baloo and smoky, but then we get coal saying things are getting better and not just because of the two shirts and buy two get one free purchase of kohl's brand socks, the house brand, i made this four weeks ago, can you tell the difference in that quarter was amazing. it's every bit as good as saks' and macy's. then autoparts makers saying auto sales are coming back strong. it is up moving better than $1. can you imagine how much market share ford must be taken as its format seemed darn good even on a snowy day a
WETA
Feb 24, 2010 7:00pm EST
up gains today after the federal reserve chairman, ben bernanke, said interest rates need to stay low. the dow jones industrial average gained more than 91 points to close at 10,374. the nasdaq rose 22 points to close near 2,236. public and private sector workers walked off the job across greece today. it was the second 24-hour strike in the last two weeks aimed at a government austerity plan. demonstrators clashed with police in athens, after a peaceful march had ended. they were protesting plans to cut government spending because of a debt crisis. greece has announced wage freezes, bonus cuts and pension reform over the last month to save almost $7 billion. the u.s. house has stepped up the pressure on health insurance companies. it came a day before the president's bi-partisan summit on health care reform. health correspondent betty ann bowser has the story. >> this meeting will come to order. >> reporter: the target at a house hearing today was wellpoint-- the parent company of california's anthem blue cross. >> corporate executives at wellpoint are thriving but its policy hol
CNBC
Feb 24, 2010 2:00pm EST
responding. we were up 106 points at one point when mr. bernanke gave the market a pledge for lower interest rates for an extended period of time. he made interesting comments about the volcker rule although a lot of people think that is dead right now. and about financial regulation in general. so keep it here on cnbc all day. there are a lot of moving parts and the market's one of them. up triple digits. that's it for "power lunch." >> see you in an hour or whatever. >>> it is 2:00 in our nation's capital where washington and your money are colliding in a major way today. ben bernanke vowing to keep interest rates low for an extended period. president obama telling the nation's ceos he's pro america, not anti-business. wall street likes that rhetoric so far. the dow up nearly triple digits on that. we're also keep agear open what we anticipate will begin momentarily. the president of toyota's testimony to congress. welcome to street signs. a big hour, all of that news. the hour loaded with newsmakers of the day. senator charles schumer from new york joining us and the secretary of
CNBC
Feb 9, 2010 11:00am EST
? >> a lot of speculation about the ecb and real quickly, i just want to mention that the bernanke hearing for tomorrow has been postponed. the expectation is that that is related to weather issues, of course. we've got a big storm coming our way here on the east coast. in the meantime we're looking at a market that's been up triple digits. up 99 and 100 as i speak and this is primarily because there is hope that, in fact, greece's problems may be somewhat tempered by the european union coming in and doing some kind of rescue, some kind of bailout. i want to bring in bob pisani. we've got a lot to talk about, bob. first, bernanke hearing. >> it's just because of the snow, there's nothing else going on. it's that simple and that makes a lot of sense and that's what traders have been saying and we're waiting for an official reason. >> mr. trichet is on his way back from sydney as we speak a day early and a lot of people are putting their hopes on him coming forward with some kind of plan. >> it's actually moved the markets. remember in '92 with the treat they created the whole euro,
CSPAN
Feb 28, 2010 6:00am EST
the nextçó two years we are tryg to be fairly strict on the time. chairman bernanke needs to be out by 2:00. the gentleman from illinois. >> con dprat layingses on your reelection. the fdic reported yesterday that bank lending in 2009 fell by 7.75%. $587 billion in the washington journal said it was epic, the decline. there's a chart behind. why is bank lending falling so dramatically. it's falling because we are forcing to receive reserves. upon the committee room tv now is a chart from the oversite value report. increasing 700% since the first quarter of 2007. you'll notice from the chart that if the trend continues, the rate of free loans will soon be off that chart. the dramatic increase to me is really approaching a tsunami approaching our local communities. it is estimated to pique with over 300 billion expected to mature each year. 3.5 trillion, more held by banks and thrift. much held by the community banks that have survived the first part of the mortgage. now being threatened by this one. fdic yesterday added 450 banks to the troubled bank lits doubling the number from the st
CNBC
Feb 8, 2010 4:00am EST
strategy be affected by a blueprint coming out from bernanke this week on a plan for credit tightening? >> now, you know, this is the usual thing, nicole, bernanke will come out and he'll have to be careful what he says. he has been saying we'll have an exit policy but not yet. exit policy means look at my finger. higher interest rates. it's like saying the market correctors. was it wrong before? the exit policy is when we're going to see higher interest rates in the united states and of course the markets right now don't want to hear about that. bernanke is saying when the time is appropriate will include interest rates because the markets will want to know when is the appropriate time. can you spell out what's going to happen? the problem is guess what? we're having low unemployment so what if we have low unemployment the month after that? will that be the appropriate signal? >> there we go. andrew freris to stay with us. we'll get you some headlines making news right now. meanwhile, around the world, in the united states, the head of the world's largest bond fund says 2010 will be a
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